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ADCB Board of Directors Holds its Meeting in India

26 March 2012

ADCB reaffirms its commitment to the Indian Market

Abu Dhabi, 26 March 2012: Abu Dhabi Commercial Bank (ADCB) Board of Directors (BoD) held its regular meeting on Thursday, 22 March 2012, in Mumbai, the Indian commercial capital. The BoD reviewed the latest developments in the Indian business and financial markets, in addition to exploring investment opportunities in the banking sector in the country as well as reviewing ADCB's business in India.

This is the first meeting of its kind in India by the Bank's BoD which further demonstrates ADCB's ongoing commitment to its business in India represented through its branch network in Mumbai and Bangalore and significant cross trade business from the UAE.

ADCB Chairman, H.E. Eissa Al Suwaidi led the delegation of BoD members and executive management. During the visit, they paid a visit to the ADCB branch in Mumbai and held a meeting with the Bank's staff.

On this occasion, H.E. Eissa Al Suwaidi, ADCB Chairman, said: "The Indian economy is one of the world's fastest growing and most dynamic economies. It is the UAE's largest non-oil trading partner, a fact that attracts to increase further our deep linkage with India and reinforce our Bank's status. We do this by supporting our customers who trade and invest in India with whom we have had strong and solid relations for many years. ADCB is one of the first banks that established branches in India. We opened our first branch in Mumbai, in 1980 and the second in Bangalore in 1996. Our presence here highlights ADCB's strategic vision and wide reach on both regional and international levels."

He added: "In order to achieve our strategic objectives, the Bank doubled its capital during the past years in these two branches. ADCB also strengthened its investment in IT infrastructure to facilitate and upgrade the overall level of banking transactions with our customers."

"We look forward to continuously reinforce our ties with the major financial and business organisations in India, and bolstering cooperation with them and their Emirati peers. We also look forward to continue our strong ties with businesses operating and trading along the UAE/India business axis, and offering Emirati companies that are ready to seize the promising business and investment opportunities in India by providing all the necessary banking services," Al Suwaidi concluded.

ADCB has one of the biggest customer bases of Non-Resident Indians "NRI" in the UAE, offering several financial products and innovative banking transactions to fulfill their needs and achieve their ambitious goals.

ADCB's customer-base in India consists of more than 12,000 customers in the Mumbai and Bangalore branches. The Bank has 48 staff in the country, offering a wide range of products, services and banking transactions, such as accounts, deposits and banking facilities for individuals and corporates, delivered as per the highest international standards. This is in addition to the state of the art online services and banking transactions offered by ADCB to both individual and corporate customers.